Deep Learning Market To Grow at CAGR 51.1%, Market Value to Reach USD 415.4 Billion By 2030
Acumen Research and Consulting
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Global?Acumen research and consulting, the global?Deep Learning Market?size to grow at CAGR 51.1% market value to reach USD 56,427.2 Million by 2026.
Deep learning is a sub-branch of?machine learning (ML) in artificial intelligence (AI) that refers to the algorithm inspired by how human brain works, known as the artificial neural networks. Also called Deep Neural Learning or Deep Neural Network. Deep learning continues to evolve with the growing amount of the unstructured data through digitization. Amount of data available is used in the deep learning to understand or process the data for effective decision-making across different industry verticals, including manufacturing, healthcare,?agriculture, automotive, retail, human resources,?security,?marketing, legal, and fintech.
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Dynamics of Deep Learning Market?
Improving computing power as well as reducing hardware costs along with the rapid growth of electronics industry. Increasing adoption of the cloud-based technologies due to the development of big data supports the growth of the deep learning market. The increasing adoption of customer-centric services based on artificial intelligence (AI) continues to drive the market value. The increasing security issues in almost all vertical industries due to the use of online platforms further accelerate the growth of the market. Additionally, the presence of less structured data and higher spending in the healthcare, travel, tourism and hospitality industries are expected to create potential opportunities in the deep learning market. On the other hand, increasing hardware complexity due to complex algorithms used in technology-based applications is expected to restrain the growth over the forecast period. In addition, the lack of standards and protocols is expected to restrain growth to some extent during the estimated period.
The hardware segment dominated the market due to the growing need for high-computing hardware platforms to run deep learning algorithms. The hardware segment consists of processors such as GPUs, FPGAs and CPUs, memory and networks, among others. R&D's increasingly?evolving activities to expand better processing hardware for deep learning are also accelerating market value. The best hardware capable of supporting deep learning technology can amplify the results. The image recognition segment dominated the global deep learning market with a peak share in the base year. The increasing demand for optical character recognition, object recognition, pattern recognition, code recognition, face recognition and digital image processing is particularly driving the growth of the market.
Deep Learning Regional Market Analysis?
The security segment retained the dominant share per end user in the deep learning market. Increasing security concerns due to the changing cybersecurity ecosystem are supporting the growth of the segment. New types of cyber attacks are found in organizations out of concern that organizations invest in preventative measures where deep learning helps to protect their vital information without data loss and also positively supports deep learning market value. North America dominated the global market due to the presence of advanced technology infrastructure. In particular, the region's leading economy, including the US and Canada, contributes the largest share of the regional market. High demand for deep learning applications from industries such as healthcare, IT, aerospace and defense, automotive, and telecom also supports regional market growth.?
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machine learning market?size to?grow at CAGR 40.1%?market value to reach?USD 76.8 Billion?by 2026.
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